Published: 02 May 2018

GOVERNMENT has agreed to convene regular meetings with the private sector to discuss issues affecting business in order to unlock economic growth.

Responding to a question from the Confederation of Zimbabwe Industries immediate past president, Mr Busisa Moyo, during the Zimbabwe International Business Conference held in Bulawayo last week, Vice President Dr Constantino Chiwenga said the private sector's desire for regular meetings with economic ministries was spot on.

"I am quite happy that the private sector has now seen it fit that they work together with Government. That request is accepted 100 percent. Quarterly meetings between the private sector and economic ministries will be done," said Dr Chiwenga.

"We just did one (meeting) in February when we had prices of basic commodities, which were going up uncontrollably and we discussed on our part.
"We reduced duty on fuel and we said on your part go and reduce the price of fuel so that the consumer does not get affected."

Mr Moyo had said while industry appreciated the meetings they have had in the past with Industry, Commerce and Enterprise Development Minister, Dr Mike Bimha, some of the issues affecting the economy cut across all the sectors and thus it was imperative to have regular all-stakeholder meetings between the private sector and key economic arms of Government.

He noted that in other countries they have councils made up of economic ministries and the private sector so that they have regular discussions and feedback on economic issues.

"Will it not be possible at national level to have an interface with economic ministries and private sector; regular, quarterly or calendared and we work together because I feel that a lot of things are being lost in translation and frequency of feedback?" said Mr Moyo who is chief executive officer of United Refineries Limited.

"As Zimbabweans we have great ideas and we are educated but we don't have regular forums where we can exchange ideas and guide the direction of where we want to go."

Early this year, the Government reduced excise duty on petrol from $0.45 per litre to $0.385 per litre while duty on diesel and paraffin was revised downwards by $0.07 to $0.33 per litre respectively. In the past, the industrial sector expressed concern over high cost of production induced by the high cost of fuel such as diesel and petrol, which ultimately affected the price of goods and services.

VP Chiwenga embraced the private sector's proposal adding that it was through such discussions that the Government would look into certain policies and quickly remove the impediments stifling economic growth.

"We want the ideas from you and that is accepted, the Minister of Industry, Commerce and Enterprise Development has taken up that issue and he will be coordinating with you," he said.
- chronicle

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